Wednesday, 18 April 2012

IN THE PRESS: Bordeaux 2011 – “What works for Lafite may not work for others”

Posted by Julian Campbell, Buyer
"With the 2011 en primeur campaign poised to begin in earnest, Justerini & Brooks’ Bordeaux Buyer Tom Jenkins told the drinks business that “what works for Lafite may not work for others”.

Jenkins said that for customers to buy this vintage, it was essential that the wines were “correctly priced”.

With a cut of 30% to €420 p/b, Lafite still released over 200% above its 2008 release price but Jenkins noted that Lafite was able to operate on a very different level to its neighbours.

He thought that the château’s price was “sensible” and was glad that prices had come down but warned that other growths would have to be looking at below €300 a bottle to find buyers.

He said: “I applaud Lafite for its price but it is almost unfortunate that it has come out first. Hopefully ego will not get in the way of common sense. If other châteaux release at that price it could put a stop to the campaign.

“The other classed growths shouldn’t feel that they can price against Lafite. If Mouton comes out at over €400 a bottle for example I can’t see people buying it. “Customers will buy this vintage if it’s priced correctly. The châteaux need to slash their prices. There are lots of very good wines from 2011 but for us to recommend them to our clients they have to offer good value.”

Article Source: The Drinks Business, by Rupert Millar